The law-enforcement bodies told APA that 29-year old director of “Royal Bank” that was closed last year, Fuad Jam has faced charges of embezzlement.
Jam who has multiple citizenships is supposedly in the United States. Though he has been summoned in connection with the investigation several times, he refused coming and thus the court declared him internationally wanted.
Notice on Fuad Ali Jam has been also posted on Interpol's website.
Currently, measures are being taken to detain him.
Fuad Ali Jam was director of “Royal Bank” and his father Ali Jam chairman of the Supervisory Board.
Under the decision of the Board of Directors of the Central Bank of Azerbaijan, license of "Royal Bank" was revoked in 2012.
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